3 Finance Books Recommended By The DollarsAndSense Team To Kickstart Your Financial Journey

Midway through 2021 and it has been an equally eventful year as 2020. While we continue to work from home for the fifteenth month, taking the time out from work to pick up a new interest can be one method to unwind.

If we are fortunate enough to accumulate enough cash savings during this period, we can also kickstart our financial journey to reinvest those monies.

Here are three books that helped them with their financial journey as recommended by the DollarsAndSense editorial team.

Read Also: Upcoming Personal Finance Webinars and Events In Singapore You Should Attend In 2021

Title Of #1 Book: Dollars And Sense

Source: Amazon

Recommended By Timothy Ho

#1 Why would you recommend this book for readers that want to kickstart their financial journey? 

Believe it or not, it was only just a couple of years ago when I decided to finally read Dollars And Sense, written by Dan Ariely & Jeff Kreisler. I read a previous Dan Ariely book and I always love how he integrates our behaviour to everyday decisions we make.

If you want to understand how your behaviour leads to you spending more, less, or how you can spend lesser compared to others but be much happier than them, then Dollars And Sense (the book, not our website) will be the perfect book to get started. Dan Ariely is a great writer and you do not need any financial knowledge or background to be able to relate to the content in the book.

#2 What is your key takeaway from this book?

Making financial decisions is part and parcel of everything we do on a daily basis. We make not realise it, but our brains are constantly processing financial information like whether a time-limited promotion is worth paying for, or why some people don’t mind walking 10 minutes just to enjoy $0.20 off their morning coffee but won’t have problems paying double the price for an overpriced wine bottle at a restaurant.

#3 Any fair warnings for readers before they start on the book?

If the intention to read this book is so that you can make better stock investments or understand the financial world, then you are probably better off reading DollarsAndSense – our website! But if you want to understand why your behaviour causes you to make good or bad financial decisions on a daily basis, then Dollars And Sense – the book, will be a great read!

Read Also: [Beginners’ Guide] How To Start Investing In Singapore

Title Of #2 Book: The Automatic Millionaire

Source: Amazon

Recommended by Dinesh Dayani

#1 Why would you recommend this book for readers that want to kickstart their financial journey? 

The title is eye-catching – everyone wants to be a millionaire, and if it can happen automatically, then all the better.

However, the book is actually about adopting the simplest financial habits to build your wealth. For anyone kickstarting your financial journey, having good financial habits is the first place to start. These financial habits will then “automatically” lead to you becoming a millionaire.

#2 What is your key takeaway from this book?

To start small and early. Your efforts will inevitably compound. But you have to remain disciplined.

This is a concept that everyone will be able to relate to and that applies to virtually all aspects of our lives. No one becomes a doctor overnight, it takes years of education. No one goes from not running to running a marathon.

#3 Any fair warnings for readers before they start on the book?

You’re not going to automatically become an instant millionaire. There are no secret investing tips. Moreover, the “automatically” bit explained in the book really requires decades of financial discipline.

This book is also quite skewed to U.S. audiences.

Read Also: Guide To Regular Savings Plans in Singapore (And How You Can Start Investing With $100 A Month)

Title Of #3 Book: Crashed – How a Decade of Financial Crises Changed the World

Source: Amazon

Recommended by Jorinda Hsu

#1 Why would you recommend this book for readers that want to kickstart their financial journey? 

Learning about finance in school was interesting. However, the classes did not cover how the financial and monetary system worked. If you never fully comprehend how did the 2008 financial crisis happen, this is the book for you.

Covering all countries including US, Greece and even China, Adam Tooze shows incredible depth of understanding of the global financial system. The book also provides good historical coverage of the monetary system, starting from the Bretton Woods Conference in the 1970s that kickstart the global financial system when USD de-pegged from gold.

#2 What is your key takeaway from this book?

The clear and detailed explanation of how the federal reserve bailed out the international financial system through printing money.

#3 Any fair warnings for readers before they start on the book?

It is basically a 687 paged summary of the modern financial and monetary system. It may seem like a long read but it is full of information and insights worth listening to deepen our knowledge of the financial systems.

Read Also: 6 Rules To Remember Before You Start Investing

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